Buy GDX via selling Dec 52 puts, GDX @63.4. I open a Dec position. It is tough to do with the overextended up move, but the benefit of selling puts is the flexibility.
I bought these early in the day, close to the top. Can you say "oops?" Or perhaps some more colorful words come to mind as I am down about 130% on a notional basis, though as almost always with these naked put trades, the dollar amount is small.
The catalyst seems to be an increase in margin requirements for silver contracts.
Long AAPL, BRKB, GDX, GLD, SPY, TBT, TLT
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